Trimble Navigation Limited
935 Stewart Drive
Post Office Box 3642
Sunnyvale, CA 94085
Trimble Acquires Assets of European Engineering and
Construction Accessories Company
SUNNYVALE, Calif., April 2, 2014—Trimble (NASDAQ: TRMB) announced today it has acquired the assets of privately-held GeoDesy and GeoDesy Free Space Optics (FSO) of Budapest, Hungary. GeoDesy is a European engineering and development company focused on delivering accessories for the geomatics, surveying, mapping and construction industries. Financial terms were not disclosed.
GeoDesy designs, manufactures and distributes accessories for surveying instruments, lasers, robotics, mapping and Global Satellite Navigation System (GNSS) systems, which includes products such as tripods, prism poles, tribaches, brackets and adapters. Along with offering company-branded accessories, GeoDesy also offers regional custom-made solutions.
GeoDesy FSO designs, manufactures and distributes laser-based free space optical communication devices. FSO is a line-of-sight technology that uses invisible beams of infrared light to provide very-high optical bandwidth connections that can send and receive voice, video, and data information for outdoor communications. This technology is typically deployed where traditional communication technologies may be challenging such as large construction sites, remote oil fields, dense urban environments, railways and mining locations. FSO is a technology of choice when high-speed data rates, integrity and data security are essential to success.
GeoDesy complements Trimble's current portfolio of products acquired from SECO and Crain Enterprises in 2008. The purchase of GeoDesy allows Trimble to provide the necessary products and support services that can be offered as part of its positioning solutions in the engineering and construction markets. GeoDesy offers a unique perspective in the professional surveying market with over 130 years of continued innovation. In addition, GeoDesy will be able to leverage established distribution channels throughout the world.
"With the acquisition of GeoDesy, we have strengthened our ability to serve our customers in the European, Middle Eastern and African regions," said Henry Munoz, business area director of Trimble Interconnect Solutions. "Our strategy is to combine our global design capabilities with regional innovation and deliver these solutions through localized manufacturing and distribution centers."
"We have worked closely with Trimble for over 13 years and we believe the acquisition is an ideal strategic fit. The acquisition strengthens our industry leadership position in Europe and gives us access to further opportunities by leveraging Trimble's worldwide distribution network," said Peter Szabo, managing director of GeoDesy.
GeoDesy will be part of Trimble's Engineering and Construction segment.
About GeoDesy and GeoDesy FSO
Established in 1876 and located in Budapest Hungary, GeoDesy is a market leader in the design, production and distribution of surveying instruments, precision mechanic optical components and accessories. GeoDesy FSO designs and produces laser-based free space optical communication devices. For more information, visit: http://geodesy.hu/en.
Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location—including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978, Trimble is headquartered in Sunnyvale, Calif.
This press release contains forward-looking statements regarding the business operations and prospects of Trimble, including the impact of the GeoDesy asset acquisition on Trimble's ability to better serve its positioning solutions customers in the engineering and construction markets. These forward-looking statements are subject to change, and actual results may materially differ due to certain risks and uncertainties. Factors that could cause or contribute to changes in such forward-looking statements include, but are not limited to (i) realizing the anticipated benefits of the acquisition, (ii) Trimble's ability to strengthen serving its customers in Europe, the Middle East and Africa through the acquisition, and (iii) the risks and uncertainties associated with unexpected expenditures or assumed liabilities that may be incurred as a result of the acquisitions. More information about potential factors which could affect Trimble's business and financial results is set forth in reports filed with the SEC, including Trimble's quarterly reports on Form 10-Q and its annual report on Form 10-K. All forward-looking statements are based on information available to Trimble as of the date hereof, and Trimble assumes no obligation to update such statements.
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808